The FBI recently issued a warning to the public about a new scam targeting victims of cryptocurrency fraud. According to the bureau, scammers are pretending to be lawyers and reaching out to individuals who have fallen victim to crypto scams. These fraudsters claim they can help recover lost funds, but in reality, they are only trying to steal more money.
It seems that these scammers are using social media and messaging platforms to pose as law firms. They may even mention the FBI in their communications to appear legitimate. Victims have reported being contacted by these scammers through fake websites that look real, further adding to the deception.
The FBI advises caution when dealing with advertisements for cryptocurrency recovery services. Before engaging with any company claiming to help recover lost funds, it is important to research them thoroughly. Look out for vague language, a lack of online presence, and promises of guaranteed results, as these are red flags of a potential scam.
In the scam, victims are asked to pay an initial fee upfront, with the promise of recovering the rest of the funds later. The FBI reports that fraudsters have made nearly $10 million from this scheme between February 2023 and February 2024. This highlights the seriousness of the issue and the need for vigilance when dealing with cryptocurrency-related matters.
Furthermore, a recent report from the FBI revealed a sharp increase in crypto-related investment fraud schemes. These scams made up 86% of all investment fraud losses in the U.S. in 2023, totaling almost $4 billion. Criminals are taking advantage of the anonymity and fast transactions offered by digital currencies like Bitcoin, Dogecoin, and Shiba Inu to carry out these fraudulent activities.
It is clear that the world of cryptocurrency is not without its risks, and investors must be cautious to protect themselves from falling victim to scams. By staying informed, conducting thorough research, and being skeptical of too-good-to-be-true promises, individuals can reduce their chances of being defrauded. Remember, if something sounds too good to be true, it probably is. Stay safe in the world of crypto and don’t fall for the traps set by scammers.